DNOW (NYSE:DNOW) Trading 5.6% Higher – Should You Buy?

Shares of DNOW Inc. (NYSE:DNOW) were up 5.6% during mid-day trading on Friday . The stock traded as high as $13.18 and last traded at $13.12. Approximately 654,425 shares changed hands during trading, a decline of 50% from the average daily volume of 1,310,201 shares. The stock had previously closed at $12.42.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective on the stock in a research note on Friday. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Stock Up 8.4%

The stock’s 50-day moving average price is $14.49 and its 200-day moving average price is $14.83. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.49 and a beta of 1.01.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The business had revenue of $634.00 million during the quarter, compared to analyst estimates of $637.13 million. During the same quarter last year, the business posted $0.21 earnings per share. DNOW’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DNOW. Brooklyn Investment Group boosted its stake in shares of DNOW by 2,650.0% in the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,643 shares during the last quarter. Headlands Technologies LLC boosted its stake in DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 2,383 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares during the period. Parkside Financial Bank & Trust increased its position in shares of DNOW by 2,101.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 2,501 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of DNOW in the 3rd quarter valued at $44,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.